Explain the advantages that a socialist system can have over a society based on capitalism.

A.VERIFIED ANSWERfact-checked by tutors

Under the socialist system, all the factories, industries and means of production belong to state while in capitalist system all these things belong to the private owners. The socialist system can have following advantages over the capitalist system.
Differences between socialist and capitalist systems are as follows:

Suggested Q&A

HISTORY · CLASS 11

HistoryCLASS 11
Go through the chapter carefully and pick out some basic features of Roman society and economy which you think make it look quite modem.
HistoryCLASS 11
Suppose the emperor Trajan had actually managed to conquer India and the Romans had held on to the country for several centuries. In what ways do you think India might be different today?
HistoryCLASS 11
Why do you think the Roman government stopped coining in silver? And which metal did it begin to use for the production of coinage?
HistoryCLASS 11
Imagine that you are a Roman housewife preparing a shopping list for household requirements. What would be on the list?
HistoryCLASS 11
Compile a list of some of the towns, cities, rivers, seas and provinces mentioned in this chapter, and then try and find them on the maps. Can you say something about any three of the items in the list you have compiled?
HistoryCLASS 11
If you had lived in the Roman Empire, where would you rather have lived—in the towns or in the countryside? Explain why?